SOLUTION: How do you set this word problem up in algebra equation and solve for x?suzy invested part of her 12,000 bonus in fund that paid 10% pfofit and invested the rest in stock that suff
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Question 259908: How do you set this word problem up in algebra equation and solve for x?suzy invested part of her 12,000 bonus in fund that paid 10% pfofit and invested the rest in stock that suffered 3% loss find amt of each investment if her overall net profit was 550? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! suzy invested part of her 12,000 bonus in fund that paid 10% profit and invested the rest in stock that suffered 3% loss find amt of each investment if her overall net profit was 550
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Quantity Eq: x + y = 12000
Interest Eq:0.10x - (0.03)y = 550 dollars
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Multiply thru the 1st equation by 10.
Multiply thru the 2nd equation by 100.
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10x + 10y = 120000
10x - 3y = 55000
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Subtract the 2nd Eq from the 1st and solve for "y"
13y = 65000
y = $5000.00 (amt. that suffered a 3% loss)
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Since x+y = 12000, x = $7000.00 (amt. that gained 10%)
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Cheers,
Stan H.
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